Examlex
Credit terms of 2/10, n/30 indicate that a discount of 2% will be given if payment is made within 10 days of the invoice date. Otherwise, the total invoice amount is due within 30 days after the invoice date.
Relief
Relief in a legal context refers to the remedy or compensation sought by a plaintiff or granted by a court to redress a legal wrong or enforce a right.
Discovery
A phase in the litigation process during which the opposing parties may obtain information from each other and from third parties prior to trial.
Summons
A document informing a defendant that a legal action has been commenced against him or her and that the defendant must appear in court on a certain date to answer the plaintiff’s complaint. The document is delivered by a sheriff or any other person so authorized.
Motion to Strike
A legal request made to a court to remove specific allegations or evidence from the court records, often due to irrelevance or inappropriateness.
Q29: Sales revenue of a merchandiser amounted to
Q35: BM Corporation makes a sale on account
Q65: The current ratio shows the profitability of
Q70: The perpetual inventory system keeps a running
Q88: In a bank reconciliation, outstanding checks will
Q125: A customer's promise to pay in the
Q130: Williams Company had the following balances
Q130: Which of the following is true of
Q134: When a merchandiser records sales returns, the
Q160: An invoice for an amount of $600